Tuesday, 28 January 2014

Contactless technology for ATMs?

Contactless technology is already available for ATM cash withdrawals, with some pilot studies in operation. The European ATM Security Team (EAST) ran a website poll on this topic from October to December 2013.

74% of respondents indicated that they would be happy to use this technology (card or smartphone) to make an ATM withdrawal. 67% would happy to do this with a PIN and 7% without a PIN, while 26% indicated that they would not want to use the technology.

The term 'Contactless' refers to the fact that a card does not need to physically make contact with the reader. The information required for the transaction is transmitted from an antenna found in the Contactless card using radio frequency identification (RFID) technology. Contactless cards are secured by the same advanced technology that underpins chip and PIN, and PIN entry is required for transactions above a defined limit.

Near field communication (NFC) is a set of standards for smartphones and similar devices to establish radio communication with each other by touching them together or bringing them into close proximity, usually no more than a few centimetres. NFC devices can be used in contactless payment systems, similar to those currently used in contactless payment cards, and allow mobile payment to replace or supplement these systems.

The current EAST poll is on Social Engineering at ATMs. To take it, and to see all past results, visit the ATM Research Page on the EAST website.

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